Bitcoin price breakout to $117K liquidates bears, opening door to fresh all-time highs

Bitcoin chased its range highs after the Federal Reserve hinted at a policy pivot during the closing speech of the Jackson Hole Symposium.

Key takeaways:

Bitcoin surged 5% to $117,300 after Federal Reserve Chair Jerome Powell hinted at an upcoming interest rate cut, liquidating $379.88 million in shorts.

Analysts say the BTC “uptrend is back,” with the potential to hit $200,000 before the end of the year.

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